India's Rategain Travel down after QIP launches at discounted price

RateGain Travel Technologies

16/11/2023 04:35

** Shares of Rategain Travel Technologies  RATE.NS  down as much
as 4.3% to 681.1 rupees
    ** Software solutions provider for hospitality and travel
industries said it launched a qualified institutional placement
to raise capital at a floor price of 676.66 rupees per share
    ** However, the indicative issue price of 643 per share is
at discount of 9.68% to last closing price 
    ** Shares down for a second consecutive sessions, if trend
holds 
    ** Stock currently down 2%, trimming YTD gains to 144.4% 


 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))